Oct. 1 - House Foods Corporation (“House Foods”, President: Akira Oze) and Takeda Pharmaceutical Company Limited (“Takeda”, President: Yasuchika Hasegawa) announced today transfer of all of Takeda's shares of House Wellness Foods Corporation (“House Wellness”, President: Miyoshi Tokumitsu) to House Foods.
House Wellness was established in April 2006 as a joint venture between House Foods (66%) and Takeda (34%), and the beverage and food business of former Takeda Food Products, Ltd. was transferred to that joint venture aiming to have a synergy effect from fusion of development ability centered on vitamin products of Takeda Food Products, Ltd. and House Foods’ food-processing technology. Currently, House Wellness’ mainstay products are beverages such as “C1000 Vitamin lemon” and “C1000 lemon water”.
The transfer of shares held by Takeda to House Foods this time is stipulated in the original joint venture agreement signed in February 2006.
“It is our pleasure to welcome House Wellness as a wholly owned subsidiary in our group,” said Mr. Akira Oze, President of House Foods. “House Wellness already plays a pivotal role in our health food products business which is expected to support our future following the current core businesses. We will further pursue the synergy effect from fusion of our own technologies and those of House Wellness, so that we can establish the new product portfolio strategies.”
“We are pleased with the successful transfer of businesses of former Takeda Food Products, Ltd. to House Wellness and also with the progress of its business to date,” said Mr. Yasuchika Hasegawa, President of Takeda. “We believe House Wellness will further expand its business, contributing to the enhancement of health food business of House Foods’ group.”